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December 19, 2019 Royalties are the most traditional form of taxation of mineral resources in the world. It is compensation for the exploitation of a mineral resource designed to ensure that future generations enjoy the benefits that exploitation of the non-renewable natural resource provides to the current generation. In the Brazilian case, according to Law... Continue Reading →
Dec 18, 2019 Petrobras plans to invest U$ 49.5 billion in production development projects between 2020 and 2024 The Buzios field, in the Santos Basin pre-salt, will receive the largest volume of investments foreseen in the Petrobras 2020-2024 Strategic Plan. The projection is that the asset will absorb U$ 18 billion over the next five... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador today announced the expansion of its portfolio in Colombia following a new successful Agencia Nacional de Hidrocarburos (“ANH”) bid round and an... Continue Reading →
Dec 13, 2019 The National Energy Policy Council (CNPE) has approved the creation of the Committee for Revitalizing the Activities of Exploration and Production of Oil and Natural Gas in Land Areas of the REATE 2020 Program. It will propose measures to improve market conditions and to increase the attraction of small and medium-sized companies... Continue Reading →
Brazil “trigger” Most all, it’s drill bit “luck” and reserves that bankroll Equinor, and the company’s long struggle to stay in Brazil — through rising costs, political turmoil and deepwater doubt — might now produce Equinor’s new El Dorado. In a letter to Norwegian DN, CEO Saetre sounded off on Brazil, suggesting current production of... Continue Reading →
Even as Mexico’s president and Pemex’s CEO touted the country’s most important find in three decades, it appears to be far from a panacea for the beleaguered state driller. Pemex called the Quesqui deposit -- which is believed to contain 500 million barrels of proven, probable and possible, or 3P reserves -- the most important... Continue Reading →
December 9, 2019 – Petróleo Brasileiro S.A.- Petrobras, following up on the release disclosed on 04/25/2019, reports that it has completed today the sale of its entire stake in 34 onshore production fields located in the Potiguar Basin, in the state of Rio Grande do Norte, to Potiguar E&P S.A., a subsidiary of Petrorecôncavo S.A.... Continue Reading →
Mexican state oil company Pemex said on Friday it has discovered a deposit in southeastern Mexico that could yield 500 million barrels of crude, calling it the largest such finding in more than 30 years. Pemex said it first discovered the field in Tabasco state in May, before beginning studies to evaluate its viability. The... Continue Reading →
December 3, 2019 Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure stage, referring to the sale of its interest in two onshore exploratory blocks, located in the Espírito Santo Basin. Petrobras holds a 50% stake in each of the blocks, in partnership with Cowan Petróleo e Gás, which is the... Continue Reading →
December 3, 2019 – Petróleo Brasileiro S.A. - Petrobras, following up on the release dated on 09/30/2019 and 10/15/2019, reports on the beginning of the binding phase regarding the sale of its interests in eight onshore exploratory blocks located in the Recôncavo Basin. Qualified parties for this phase will receive process letters with instructions on... Continue Reading →
